I feel as though I totally wasted 2009. I climbed relatively fast in 06,07. I bought four houses within a year and rebuilt them all and got them rented to good tenants.
It goes down hill from there.
Doing the above amassed alot of debt that i'm having a very hard time knocking down. Only one of the properties flows enough cash to be considered succussful (it actually keeps the others alive).
My problem as I see it, I need to dump the bad houses but they're underwater and the rents are high end of the market. I also need to knock down the debt of rebuilding them.
Actually, I would be sitting just fine were it not for the plastic. My contracting was so slow last year I ended up settling 60k (about half) of the debt. That helps but I still cant get back into the game.
Any suggestions here that may put me back on track would be greatly appreceiated.
I know i'm not the only person here to land in this situation, so what did you do to get out. I'd love to hear your story.
I have considered joining up with another investor that I work with occasionally in some sort of equity share deal. The guys i'm thinking about arent carpenters and i'm a licensed builder so I do bring alot to the table, just no money.
It goes down hill from there.
Doing the above amassed alot of debt that i'm having a very hard time knocking down. Only one of the properties flows enough cash to be considered succussful (it actually keeps the others alive).
My problem as I see it, I need to dump the bad houses but they're underwater and the rents are high end of the market. I also need to knock down the debt of rebuilding them.
Actually, I would be sitting just fine were it not for the plastic. My contracting was so slow last year I ended up settling 60k (about half) of the debt. That helps but I still cant get back into the game.
Any suggestions here that may put me back on track would be greatly appreceiated.
I know i'm not the only person here to land in this situation, so what did you do to get out. I'd love to hear your story.
I have considered joining up with another investor that I work with occasionally in some sort of equity share deal. The guys i'm thinking about arent carpenters and i'm a licensed builder so I do bring alot to the table, just no money.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
